Ellington Financial, Inc. (NYSE:EFC) Q4 2022 Earnings Conference Call February 24, 2023 11:00 AM ET

Company Participants

Laurence Penn - CEO, President & Director

J. R. Herlihy - CFO & Treasurer

Mark Tecotzky - Co-CIO

Conference Call Participants

Eric Hagen - BTIG

Justin Crowley - Piper Sandler

Trevor Cranston - JMP Securities

Bose George - KBW

Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Ellington Financial Fourth Quarter 2022 Earnings Conference Call. Today's call is being recorded. [Operator Instructions].

It is now my pleasure to turn the call over to , Vice President of SEC Reporting. You may begin.

Unidentified Company Representative

Thank you. Before we start, I would like to remind everyone that certain statements made during this conference call may constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature. As described under Item 1A of our annual report on Form 10-K and Part 2 Item 1A of our quarterly report on Form 10-Q for quarter ended September 30, 2022, forward-looking statements are subject to a variety of risks and uncertainties that could cause the company's actual results to differ from its beliefs, expectations, estimates and projections.

Consequently, you should not rely on these forward-looking statements as predictions of future events. Statements made during this conference call are made as of the date of this call, and the company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

I am joined on the call today by Larry Penn, Chief Executive Officer of Ellington Financial; Mark Tecotzky, Co-Chief Investment Officer of EFC; and JR Herlihy, Chief Financial Officer of EFC. As described in our earnings press release, our fourth quarter earnings conference call presentation is available on our website, ellingtonnfinancial.com. Management's prepared remarks will track the presentation. Please note that any references to figures in this presentation are qualified in their entirety by the end notes at the back of the presentation.

With that, I will now turn the call over to Larry.

Laurence Penn

Thanks, Tara, and good morning, everyone. As always, thank you for your time and interest in Ellington Financial. I'll begin on Slide 3 of the presentation. For the fourth quarter, we are reporting net income for the quarter of $0.37 per share and adjusted distributable earnings of $0.42 per share. Excellent performance from Longbridge Financial, our reverse mortgage originator, and from our Agency RMBS strategy, in addition to another positive quarter from our loan portfolios, drove Ellington Financial's results.